Friday, February 21, 2020

JP Morgan's Schizophrenia

JP Morgan is perhaps the world's largest investor in climate-wrecking fossil fuels. The bank has also realized that the fossil energy economy has mankind on a precipitous road to an irreversible end.


John B. said...

That's precious.

I wonder how much of this stuff has been wrapped up and bundled into whatever they're calling the current equivalent of CDOs and then sold to pension plans.

The Disaffected Lib said...

It's no secret that pension plans are pretty heavily invested in fossil fuels. That's why people such as Mark Carney and many others have been warning them of the Carbon Bubble risks.

My guess is that major investors are afraid of abrupt action that might trigger a rapid market collapse. Think of the scene in the western with all the cowboys gathered around the poker table holding their cards in one hand, the other hand beneath the table clutching their six-shooters.